The Greater Toronto Area saw its strongest February since 2004 in terms of new single-family home sales, according to the Building Industry and Land Development Association. Citing data from Altus Group, BILD said that the region had 2,247 new single-family home transactions last month. This was a remarkable 228% higher on an annual basis, and […]
While February may feel like it took place years ago, given the daily coronavirus updates the city, province, and country are providing, it was fewer than just four weeks ago. And it was still on fire from a real estate perspective. According to a new report from the Building Industry and Land Development Association (BILD), […]
It should come as no surprise that the recent coronavirus pandemic will have an effect on the real estate and housing market. Even one as hot as the GTA’s has been in recent months and years. According to most, we’ve never seen anything like this – not even during the 2008 financial crisis. So we […]
This is a time for all Ontarians to pull together, and we’ve seen this happening in communities right across our province. But I know people are anxious, wondering how they will pay their April rent in just a few days, and landlords are wondering how they will keep the lights on if rents aren’t paid. […]
As the economic impact of the COVID-19 pandemic ripples across Canada, another wave may crest within the week as rent comes due for residential tenants. April 1 is a pressing deadline for tenants and landlords alike as the novel coronavirus keeps people at home and closes businesses, leaving tens of thousands of Canadians out of […]
The Bank of Canada slashed interest rates for a third time in a matter of weeks and announced plans to acquire more commercial paper and government securities to help shield the nation’s economy from coronavirus fallout. The central bank lowered its policy rate Friday by another half a percentage point to 0.25 per cent, adding […]
The Canada Mortgage and Housing Corporation is expanding the number of insured mortgages it is willing to buy from banks to give the banks more freedom to lend out more money to consumers and businesses and keep the economy humming. The taxpayer-funded agency, which backstops the vast majority of Canada’s housing market by insuring the […]
To say the events of the past few months have had an unprecedented impact on how our society functions would be an understatement. As the threat of the COVID-19 global pandemic grows across Canada and all levels of government enact policies to stop community spread via social isolation, millions of Canadians in the non-essential workforce […]
Almost a year after two adjacent proposals on Eglinton west of Yonge in Midtown Toronto were integrated into a single plan, the proposed two-tower complex at 50 through 90 Eglinton Avenue West has been submitted for Site Plan Approval (SPA) to City staff. The proposal from developer Madison Group has advanced to this stage of […]
February was a stellar month for new condo sales in the populous region immediately west of Toronto. But with the COVID-19 pandemic disrupting every aspect of life in Canada, it is likely to be the last high-performing sales month for a while. Peel Region saw 545 new condo sales last month, according to new home […]
The Bank of Canada (BoC) has made another unscheduled rate cut, slashing its Overnight Lending Rate by 50 basis points from 0.75% to 0.25% – the lowest it has been since April 2009 – as further response to the COVID-19 pandemic and its impact on the Canadian economy. It is the third rate cut the […]
In an emergency announcement today, Canada’s central bank cut its market-shaping overnight rate by 50 basis points to 0.25 percent in response to the coronavirus pandemic’s dramatic impact on the Canadian economy and financial system. This move was the third rate cut in the span of a month and the second emergency announcement the Bank […]
A real estate investment trust has alleged that RBC has used the COVID-19 coronavirus outbreak to acquire real estate assets at rock-bottom prices. According to a Bloomberg report, a subsidiary of AG Mortgage Investment Trust Inc. claims that on March 23, RBC contacted it and said that the REIT’s mortgage-backed securities had seen a drastic […]
It’s an uncertain time for many. Amid the coronavirus crisis, borders have shut, flights have been downed and workplaces around the world are learning to adapt to empty desks as employees work from home. This week was so different from the last, and as new information flows in every minute, businesses have their eyes fixed […]
Now that banks in Canada have announced that they will allow homeowners to defer their mortgage payments for up to six months in light of the current novel coronavirus pandemic, tenants are wondering why they still have to keep up with rent payments in a time that is financially precarious for most. The concern is […]
Canada’s national statistics agency is estimating monster growth for population. Statistics Canada (Stat Can) population estimates show fast growth in Q1 2020. The population is now estimated to be growing at the fastest pace in 3 years. Canada’s Population Estimate Grows At Fastest Rate Since 1990 Canada’s population is growing at the fastest pace in […]
Canada’s central bank has already taken forceful action this month to cut its influential overnight rate to support the country’s economy through the coronavirus pandemic. It moved on March 4th during one of its regularly scheduled announcements and again on March 13th in an emergency announcement to cut the rate by a cumulative full percentage […]
Lower interest rates will throw more fuel onto the fire that is Canada’s housing market and lead to a strong increase in resale home prices and residential investment this year, despite an economy that looks to be on the brink of a recession. A report from The Conference Board of Canada warned that the Canadian […]
Beginning today, the Bank of Canada is lowering its target for the overnight rate by 50 basis points to 0.75%. The Bank Rate is correspondingly 1 percent and the deposit rate is 0.50 percent. The unscheduled rate decision is the second in as many weeks. In a statement, the central bank stated this was “a […]
Landlords should support tenants who become unemployed as a result from the coronavirus outbreak, the City of Toronto said Tuesday. Mayor John Tory announced the City is taking action to help Toronto’s most vulnerable tenants impacted by the COVID-19 pandemic and, while it has no power to direct landlords, he said that all property owners […]
Maziar Moini, Broker of Record - Home Leader Realty Inc.
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